BEIJING, April 9 (Xinhua) -- Haitong Securities, a major Chinese brokerage firm, reported a surge in net profits in March as the country's stock market gained strength, company data showed Tuesday.
Net profits for the parent company amounted to 1.08 billion yuan (about 160.9 million U.S. dollars) last month, up from about 791 million yuan during the same period last year, according to a statement filed by Haitong Securities to the Shanghai Stock Exchange.
Operating revenue came in at 1.77 billion yuan last month, while net assets stood at 111.53 billion yuan at the end of March, the statement showed.
The result was unaudited, the company said.
The profit increase came amid a rally in China's stock market since the beginning of the year, with a sharp rebound in daily trading volume and an upsurge in brokers' commission fees.
In March, the benchmark Shanghai Composite Index rose by more than 5 percent.
A single purchase
